Authority: High Court of Judicature at Madras
Order Date: 02-11-2026
Case Overview
- Petitioner: Saravanababu, s/o Rathinam, residing at 5/188 TVK Street, Kumaran Nagar, Padi, Tamil Nadu‑600 050, second accused in Crime No. 119 of 2026.
- Respondent: State represented by Inspector of Police, Bank Fraud Investigation Wing, Central Crime Branch‑1, Chennai (Crime No. 119 of 2026).
- Allegations: While serving as Senior Branch Manager of Punjab National Bank, Taylors Road Branch, the petitioner, as Branch Head and joint custodian of the gold vault, is alleged to have conspired with the first accused to replace genuine gold ornaments pledged in 24 gold‑loan accounts (total weight 2,137.800 g) with spurious ornaments, causing loss to the bank.
- Offences cited: Sections 61(2), 316(5), 336(3) and 340(2) of the Bharatiya Nagarik Suraksha Sanhita (BNS).
- Procedural history: Petitioner in judicial custody since 15 Sep 2026; earlier bail application dismissed on 12 Oct 2026 (Crl.O.P.No.28690 of 2026). Co‑accused A3 granted bail on 30 Oct 2026, Duraibabu Janarthanam on 30 Sep 2026, and Sunitha on 09 Oct 2026.
Final Outcome
- The Court grants bail to the petitioner, subject to a bond of Rs 25,000 (Twenty‑Five Thousand rupees) and two sureties each providing an equal amount.
- Conditions: (a) Sureties must attach photographs and left thumb impressions on Judicial Form No. 46; (b) Petitioner must report daily at 10:30 a.m. to the respondent police until further orders; (c) Petitioner must not abscond, tamper with evidence or witnesses; (d) Breach of conditions may lead to appropriate orders as per Supreme Court precedent (P.K. Shaji vs. State of Kerala, (2005) 13 SCC 283); (e) If the accused absconds, a fresh FIR may be lodged under Section 269 of BNS.
- Order to be uploaded immediately on the Court’s official website with watermark and QR code; all concerned parties directed to act on the uploaded order without requiring certified hard copies.
Topics: Bail, Bank Fraud, Judicial Order